PointClickCare Technologies is planning to acquire care coordination platform Collective Medical. The deal, which is expected to close by the end of December, is valued between $500 million and $1 billion, PointClickCare Founder and CEO Mike Wessinger said in an email.
PointClickCare offers cloud-based software to long-term and post-acute care providers to help them digitize their business. The software supports electronic patient records, medication tracking and clinical decision support. The company’s network includes 21,000 skilled nursing facilities, senior living communities and home health agencies.
“Our solutions help providers within the space understand how to care for vulnerable populations, ultimately empowering clinicians to provide better care and improve outcomes,” Wessinger said.
Collective Medical is a care notification, activation and collaboration platform that provides caregivers with real-time data on patients, including which other providers are treating their patients and what avoidable risks may arise. The platform connects more than 1,300 hospitals, thousands of ambulatory practices and long-term post-acute care providers, as well as accountable care organizations and national health plans across 39 states. It integrates with EHRs and health information exchanges.
“Collective Medical offers us the strongest network and an innovative platform to bridge the gap between acute and post-acute,” Wessinger said. “With this acquisition, we are uniquely positioned to empower providers and health plans as they work to solve the complexities around the senior patient population by leveraging increased information across diagnoses groups and unprecedented access to drive behavior change at the point of care.”
As a result of the acquisition, Collective Medical expects to expand its network “even faster as we work to connect healthcare at scale and ensure no patient slips through the cracks of an otherwise fragmented care continuum,” Chris Klomp, CEO of Collective Medical, said in a press release.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
The companies had initially entered into a partnership in August 2019, which involved integrating Collective Medical’s care transitions solution with PointClickCare’s cloud-based software platform.
“The acquisition will build on initial progress toward closing gaps in care,” Wessinger said. “As the shift to value-based care fuels growing market demand for intelligence and collaboration tools, the company will be positioned to provide the most fully integrated set of real-time care coordination tools across the entire continuum of care, powered by the largest network of its kind in the U.S.”
The acquisition follows PointClickCare Technologies’ purchase of medication management solution provider QuickMAR last year.
Photo credit: Natee Meepian, Getty Images
